End Of Day Notes Date: October 28, 2008 PLB 105: ISS 225: GW Bush Bush Background Family and educational background: went to yale Oil, baseball and politics: bought texas rangers stock, 5 years, made 14 million. Easily won gov of texas, ann close with dem Upset victory over texas gov. Ann Richards in 1994; Bush re elected in 1998: with 70% of vote, first gov to serve 2 consecutive 4 year terms. Gave texas tax payers huge tax cuts from surplus. Spent a lot for education. Wins GOP presidential nomination over john mccain and many others Bush vs gore: economic issues: bush mccain despise each other. Allen keys, steve forbes, gary bauer, Lauren hatch, Elizabeth dole, dan quail, pat bucannon, lebar Alexander, john casus, Robert smith: all wanted republican nomination! Mccain vs bush: bush won iowa caucus, first one, mccain won Michigan in 2000 primary. Super Tuesday: bush did well. 2000 vs gore(too much of a dick). What talk about(economics): What to do with surplus: bush wanted tax cut, gore wanted more of lockbox. Social security reform: bush brought SS to table need to do something about it will hurt us in the future. 3 to 1 right now. Tax policy Bush elected despite losing popular vote, one of 3, need 270 for president, electoral was 271-266. One guy voted for no one(district for Columbia) Wins re election over john kerry in 2004, 286 ? 251 (one in Minnesota voted for edwards) Wins election. 8 years Presidency 1.35 trillion tax cut failure to win social security reform: AARP(old people), let people put away money as their growing, end have some money put in stock market? It?s a gamble. 15% of what you make goes to social security. GO OVER SOCIAL SECURITY. 2008 at 102,000 once you get there you don?t pay social security anymore. SS vacation. Increase age of retirement (idea to solve problem). Now its 67. Man late 70?s woman 87? economy picks up in 2003, dow jows average peak at 14,000. Unemployment only 4.7: cost of war on terrorism causes spending to soar, deficits return, national debt goes from 5.6 trillion when bush became president to 10 trillion as election of 2008 nears. 41% is SS. Deficits get bigger every year. Debt was 5.6 trillion, now its 10 trillion 2008: mortgage crisis, soaring oil prices(140 a barrel) value of American dollar erodes economic stimulus package of 2008: taxpayers get rebate checks, didn?t use to spend on us. Most japan goods. financial crisis of fall, 2008: congress passes rescue plan in October: senate obama and mccain both vote for plan levin votes aye, Stabenow nay government and marketplace in election. Levin got 25 billion for auto. Bush had no option but to sign it. Dems made him cause they re nazis MATH 116: EGR 100:
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